Steiner v. Monroe State Savings Bank

On December 23, 1924, William J. Steiner, Eugene E. Steiner, and their respective wives, borrowed $9,200 from the Monroe State Sav ings Bank, $8,000 of which was secured by a mortgage on land and building adjoining the bank’s property and $1,200 represented by an unsecured note, the proceeds from which were used to complete repairs and improvements on the mortgaged property. Some time after the mortgage was given, the property was leased for $200 per month. It became vacant on July 1, 1932, and remained so for a period of over nine months, and but little was obtained from the receiver of the…